The roof coating market is projected to grow at a CAGR of 3.48% from
2017, to reach USD 1.94 billion by 2022

The roof coating market is projected to witness considerable growth due
to the growing awareness about environment-friendly roofing materials
and increasing need for efficient building thermal management. Moreover,
regulatory frameworks promote the use of roof coating. The roof coating
market has immense opportunities owing to the emergence of new
technology and growing construction industry in emerging economies.
Factors such as high costs of production and application restrain the
growth of the market.

The roof coating market, by end-use sector, is segmented into
residential and non-residential. The non-residential segment is further
divided into commercial, hospitality, healthcare, and others. The demand
for roof coating in the residential sector is minimal as compared to
that in non-residential, mainly due to the lack of awareness in this
market. The demand for roof coating in the non-residential sector is
higher as safety concerns are higher in non-residential constructions
such as hospitals and hotels.

Asia Pacific is projected to be the fastest-growing in the roof coating
market, in terms of value and volume, followed by Middle East & Africa,
North America, and Europe. Asia Pacific is the hub of foreign
investments and booming residential & non-residential construction
sectors, largely due to the low-cost labor and cheap availability of
land. The increase in demand for roof coating can largely be attributed
to the rising population of the region with high disposable incomes and
the construction opportunities in this region. Moreover, the increasing
demand for sustainable & eco-friendly construction drives the roof
coating market in the region.